AUD/JPY has a bearish bias and eyes 81.00

By FXStreet FXStreet (Guatemala) – AUD/JPY has been better offered since the recovery to 87.32 from 81.98 last month and has made a significant loss of the 84 handle printing a low of 82.21 at the start of this week so far.

The Yen is back below the 120 handle vs the greenback and AUD/USD has fallen through the previously protected 0.7000 level that is pressuring the cross to test the lower end of the current handle. Global uncertainties and risk aversion favour a downside bias in the cross. This break to the downside and away from the hourly 50 SMA opens the pathway for a test into 81.00 territory on a week that holds the key unemployment and employment data from Australia.

AUD/JPY levels

The downside, 82.00 is an area of psychological support that if broken opens to 79.40 Oct 3rd 2012 lows. On a correction, the 50 SMA on the hourly sticks as 83.67 and the 200 SMA at 85.10 are key resistances.
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Source:: FX Street